It’s been a while now since Bitcoin first entered the fray and spawned the cryptocurrency industry that would grow to become a major disruptor of world financial markets. We now have tens of thousands of different digital assets to choose from, with many more being minted every day. In the lifecycle of a cryptocurrency, one of the most vital stages is the presale.
What is a Crypto Presale?
According to Kane Pepi, a crypto presale is when new digital assets seek to source early funding and investment to build their blockchain before a new coin can officially launch on publicly accessible crypto exchanges. 15 years on from Bitcoin’s launch, many cryptocurrencies have enjoyed mainstream acceptance in industries like food and beverage (Starbucks accepts Bitcoin) and the online gambling industry.
Many cryptocurrencies have gained momentum as a result of having some of the best crypto presales in the history of digital assets. As a crucial period to create early value for new cryptocurrencies and demonstrate their potential as a viable investment, here’s a look back at eight of the biggest success stories from crypto presales over the years.
1. Ethereum (ETH)
Back in 2014, Bitcoin reached $1,000 but would soon demonstrate its volatility once again as it bottomed out a month later. However, that same year, Ethereum, whose cryptocurrency is actually called Ether, had its presale that went on to become a watershed moment in the world of crypto assets.
It raised an incredible amount, totaling some $18 million during that period. This set Ethereum up for all its future success and helped build the now world-famous Ethereum network. The network has become a pivotal player in the world of smart contracts and decentralized apps (dApps) executed on its blockchain platform. The presale was crucial to this and helped lay the foundation.
By paving the way for advanced development on its digital infrastructure, the presale helped bring a world of diverse and highly talented developers. All this helped make it the second-largest cryptocurrency by its market capitalization, now greater than $400 million. It’s also become a world leader for solutions that were built using its remarkable network, ushering in the world of decentralized finance (DeFi) as we know it.
2. Filecoin (FIL)
Around the time of the Initial Coin Offering boom that Ethereum played a large part in, Filecoin was able to capitalize from its own presale success. It raised a whopping $52 million by appealing to high-end investors hoping to replicate the success of Ethereum. That investment rose to a massive $205 million by the time its ICO came about.
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Centering on a model of decentralized storage, this provided a welcome solution to the tech world’s anxieties over data sovereignty and privacy. That growing reputation made it a key investment port for both institutional and smaller investors who all hopped onto the bandwagon and cemented its success. Once live, Filcoin was able to provide effective scalability built on a strong infrastructure that enabled the trading of data storage as a commodity.
3. Neo (NEO)
Neo, which has also been termed the “Ethereum of China,” began its journey as AntShares in 2014. It was later rebranded three years later when it also enjoyed a profitable fundraising period. This helped place it among the most significant chains in China’s blockchain endeavors. Its major investments came courtesy of local and international funding as it then promised to comply with the Chinese government’s stringent regulations.
It featured an inspired dual-token foundation and, after its presale and ICO, was rapidly developed. It supported the creation of various dApps that created bespoke solutions for many industries. Having shaped the blockchain economy in Asia, it has become a hub for many brilliant developers who have successfully used its blockchain, despite the tricky landscape of local regulations.
4. Solana (SOL)
One of the major cryptocurrencies in the world, Solana began life as a digital asset in earnest back in 2020. Its biggest selling point quickly became the fact that it promised a viable alternative to Ethereum while overcoming the scalability issues that often plagued the latter’s network. Solana is also known as the founder of Solana Labs, Anatoly Yakovenko, who pioneered the Proof of History (PoH) consensus model.
This led to a high-speed blockchain infrastructure that generated much interest, resulting in major investment during its presale. Democratizing the concept of dApps even further, it enjoyed immediate success by proving that higher transaction speeds were possible. Adding to its appeal and ushering in the future of cryptocurrency and blockchain technology, it accomplished this while keeping costs down at the same time.
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5. Cardano (ADA)
Multiple presale rounds resulted in Cardano’s success between 2015 and 2017 as it specialized in a peer-review-centric method to harness its vision of blockchain technology. That innovative approach led to a tapestry of diverse investors hopping on board, many of whom had a background in academia.
With the promise of a robustly secure blockchain capable of new heights in scalability, its presale enabled deep research and some of the best developments to ever make its mark in the world of blockchain technology. Now known for its resilience, Cardano is revered in crypto spaces for its no-fluff design that has lent itself well to a myriad of sectors, such as agriculture and education.
6. Polkadot (DOT)
Another cryptocurrency that had its presale in 2017, Polkadot looked to funding requirements that would enable a very ambitious vision indeed. It sought to build a fully interoperable multi-chain framework. Attracting investors who immediately saw the potential in such a project being realized, it successfully raised the investment needed.
Refinement of its technology has since magnetized a dynamic group of developers. Without the funding from its presale, such a revolutionary concept would never have been possible given how forward-thinking it was in scaleability and operability. Its success fostered its widespread adoption, along with many a host of lucrative and innovative partnerships from within the crypto industry.
7. Binance Coin (BNB)
2017 truly was a vibrant period to be a crypto investment as Binance Coin also held its uber-successful presale during the ICO boom. That presale was vital in successfully launching the now world-renowned Binance exchange. BNB attracted many investors through reduced trading fees. However, it has since grown to include payment for transaction fees using Binance’s chain, as well as other initiatives like participation in token sales.
Investment success led to rapid scaling which quickly expanded what it was able to offer. BNB’s integration into Binance’s ecosystem went on to massively grow its value. While initially limited by mostly being used to pay for its own fees, it has since grown to be a major player in industries like crypto casinos through its own range of these, known as Binance Casinos.
8. IOTA (MIOTA)
IOTA was behind the pioneering of Tangle technology during its presale back in 2015. With a focus on the Internet of Things (IoT) market, it utilized a unique approach by being the first to incorporate directed acyclic graph (DAG) theory into its blockchain. This appealed to many investors looking for more innovative approaches to scaling within the IoT industry.
IOTA’s presale was pivotal in giving it the wings required to expand its technological vision of the future. At the same time, its massive appeal within the greater tech industry itself attracted lucrative partnerships with major tech firms looking to leverage its blockchain solutions. Now a leader in facilitating microtransactions that are free from fees, IOTA has revolutionized the IoT ecosystem.
Conclusion
These crypto presale successes provide some of the key reasons why the underlying technology behind cryptocurrency is rapidly revolutionizing the world—one blockchain at a time. Presales have been invaluable in this process as it has enabled most of the world’s most successful crypto players to develop and scale their technologies in order to realize what may have simply remained visions of the future without it.